Virgin Money Credit Card Offer
Earn up to 70,000 bonus Velocity Points
Offer ends 02 December 2019
Eligibility criteria, terms and conditions, fees and charges apply
Virgin Money Credit Card Offer
Receive up to 70,000 bonus Velocity Points when you meet the spend criteria and save with a reduced annual fee in the first year.
- $64 first year annual fee ($129 thereafter)
- 20.74% p.a. purchase interest rate | 20.99% p.a. cash advance rate
- 20,000 bonus Velocity Points per month for the first 3 months (spend $1,500/month), plus 10k extra points after your first anniversary
- 0% p.a. for 18 months on balance transfers, with no BT fee
Compare the best rewards credit cards* 2019
Rates last updated November 12th, 2019
* The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.
The best* reward credit cards – trending now
Compare the features, bonus points and earn rates of the rewards cards below:
How do rewards credit cards work?
A rewards credit card is linked to a loyalty program, allowing you to earn reward points per $1 spent on the card. These points are then credited to your rewards account. You can redeem your points for rewards including flights, merchandise accommodation, travel packages, gift cards, cashback and products from the rewards store.
Rewards credit cards can help you get more value from your purchases, but these cards typically charge higher standard interest rates and annual fees than other options. So these cards are best suited if you can pay your balance in full each statement period to avoid interest and earn enough points to outweigh the annual fee.
What is an eligible transaction on a rewards credit card?
Each rewards program and credit card company has a different definition of which transactions earn points. Generally, most of your everyday purchases will earn points – including spending at retail stores, supermarkets and petrol stations. Transactions that usually don't earn points are government charges (including ATO payments), BPAY transactions, cash advances, balance transfers, account fees and account charges. Check the rewards program's terms and conditions for a full list of eligible and ineligible transactions so you know when you will earn rewards.
What rewards can I get with credit card points?
The rewards you can get with a credit card depend on the card you choose and the rewards program. Some of the most popular reward categories include:
- Flights and flight upgrades
- Frequent flyer points
- Accommodation
- Gift cards
- Cashback
- Fuel vouchers
- Instant shopping discounts
- Fashion items
- Electronics
- Tickets for theme parks or movies
Types of credit card rewards programs in Australia
There are four main reward categories: Frequent flyer programs, credit card reward programs, retail reward programs and cashback cards. You'll find more details on each of these options below.
Frequent flyer programs
If you have a card linked to a frequent flyer program, you can earn points and redeem rewards with a particular airline (such as Qantas or Virgin Australia). There are two main ways to earn frequent flyer points with a rewards credit card in Australia:
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Direct earn frequent flyer credit cards. These cards are linked with a specific frequent flyer program and rewards are added directly to your airline loyalty account. The frequent flyer programs that are linked to direct earn credit cards in Australia include Qantas Frequent Flyer, Velocity Frequent Flyer and Emirates Skywards.
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Indirect earn frequent flyer credit cards.You can transfer reward points from these credit cards to points with partnered frequent flyer programs, giving you more flexibility if you fly with a number of airlines. American Express Membership Rewards, ANZ Rewards, CommBank Awards, NAB Rewards, Citi Rewards and St.George Amplify Rewards are all examples of bank rewards programs with frequent flyer partners. Exchanging your credit card reward points generally offers less competitive earn rates than if you were to earn them directly with a frequent flyer credit card. However, it can be a good option if you want to earn points with a program that isn’t directly linked with an Australian credit card (such as Singapore Airlines KrisFlyer).
Credit card rewards programs
Many credit card companies in Australia have their own branded rewards programs. If you get a credit card linked to one of these rewards programs, you can usually redeem points for a variety of rewards including frequent flyer points, travel, merchandise, gift cards and credit on your account. The credit card rewards programs available in Australia include:
Automatic and instant reward options on credit cards
Many credit card reward programs give you the option of setting up automatic redemptions for specific rewards, such as cashback, gift cards or frequent flyer points. For example, ANZ Rewards offers an auto-redemption option for Velocity Frequent Flyer points. With this option, all your ANZ Rewards points are automatically transferred to your Velocity account annually, periodically or when you have earned a specific amount of ANZ Rewards points.
Other credit card companies offer instant redemptions with certain retailers. For example, if you have a CommBank Awards credit card you can redeem your points in-store at Myer or Flight Centre.
Retail rewards credit cards
These rewards credit cards offer you points, discounts and other perks when you shop with a particular supermarket or major retailer, such as Coles, Woolworths, Myer or David Jones. You can compare some examples of how these retail rewards cards work below:
| Retailer |
Credit cards |
Benefits |
|
David Jones American Express |
Earn Membership Rewards or Qantas Points for purchases in David Jones and everywhere else. You can also enjoy exclusive in-store benefits at David Jones. |
|
David Jones American Express Platinum Card |
Offers Membership Rewards or Qantas Points for purchases in David Jones and everywhere else. Also gives you access to exclusive in-store benefits at David Jones, plus complimentary travel insurance and airport lounge access. |
|
Coles No Annual Fee Mastercard |
Earns flybuys points per $2 spent. Other benefits include mobile payment compatibility, up to 55 days interest-free on purchases and complimentary purchase insurance. |
|
Coles Rewards Mastercard |
Earns flybuys points per $1 spent. You can also enjoy no international transaction fees when you shop online or overseas in a foreign currency. |
|
Woolworths Everyday Platinum Credit Card |
Earns Woolworths points per $1 spent on eligible purchases, with automatic redemption of points for Woolworths Gift Cards every four months. |
You can compare credit cards linked with shopping loyalty programs in Finder's guide to retail rewards credit cards.
Cashback credit cards
These types of reward credit cards add credit or “cash” to your account when you meet certain spending requirements. Most cashback credit cards offer a percentage of your total spend as cashback or provide a one-time account credit as an introductory offer when you apply and are approved for a specific credit card.
You can also get cashback through most of the frequent flyer, credit card and supermarket or retail rewards programs outlined above. Just choose the “cash” or “gift cards” category of your rewards program to see what options are available.
How can I use credit card reward points?
The steps you need to take to redeem your points will vary between credit cards and reward programs, but you can usually expect to have to do the following:
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Log in to your account. If you're redeeming points online, you'll need to log in to your credit card or rewards program account to make redemptions. Once you have logged in, it’s usually a simple process of going to the “Rewards” section, then selecting “Use points” and following the prompts.
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Make sure you have enough points for your reward. You need a certain number of points to redeem each reward (e.g. 12,000 points for a $50 gift card). If you don't have enough points, you may have to wait until you earn more points, or consider other options.
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Check if points plus pay is offered. Many credit card and frequent flyer reward programs allow you to use a combination of points and money to redeem rewards. This option is usually available for a selection of rewards, such as travel or merchandise, and gives you more flexibility if you haven’t earned enough points for your chosen reward.
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Confirm your chosen reward. Once you've found the reward you want, click through to the redemption process and follow the prompts to complete your redemption.
What's the best rewards credit card in Australia?
This largely depends on your financial circumstances and points goals. With such a wide range of options available, there is no single best credit card for earning rewards. But you can find a card that works for you by comparing cards based on factors including the rewards earn rate, bonus points and other extras, as well as the annual fee and interest rates. If you weigh these details up against your current spending habits, you'll be able to see if the rewards you earn will be worth the costs so that you can decide if the card is right for you.
How to compare rewards credit cards in Australia
From earning points to the rewards you want to redeem, here are some of the factors to consider when comparing rewards credit cards:
How can I earn points?
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Bonus point offers. Rewards credit cards often have sign-up deals that give you thousands of bonus points. Usually, you need to meet a spend requirement in a set period to score the points but it’s a simple way to give your points balance a boost. Just make sure that the spend requirement aligns with your budget.
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Points per dollar. The earn rate refers to how many points you’ll earn per $1 spent. The higher the better, but a card that offers at least 1 point per $1 on eligible transactions could be considered good value.
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Point expiry and caps. Some credit card reward points expire after a certain amount of time, and some accounts have a limit on how many points you can earn in a month or year. Make sure these restrictions don’t limit your points potential.
What should I pay attention to?
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Point values. To work out the value of your rewards, consider how many points you would need to redeem for a specific reward. For example, let’s say you need 12,000 points to get a $50 gift card and your credit card has an earn rate of 1 point per $1 spent. You would to need to spend $12,000 to make a redemption before you could redeem the $50 gift card. Breaking down the rewards like this can help you determine whether it’s worth your time and money.
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Rewards partners. Rewards programs often partner with retailers and businesses to provide you with a wider range of redemption options. You may also have the opportunity to earn bonus points when you shop with partner stores. Choose a credit card rewards program that has partnerships with your favourite brands and products so you can take advantage of these options.
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Redemption limitations. Some rewards programs have blackout periods when you may not be able to make redemptions. Check the fine print for this information and consider the impact it could have on you.
What are the costs?
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Annual fees. Most rewards credit cards charge an annual fee. The value of the rewards you redeem with your points should exceed the annual fee to make it worthwhile. You can also compare rewards credit cards that offer no annual fee – just remember to check if the annual fee is waived in the first year or $0 for life.
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Foreign transaction fees. Many credit cards charge a fee for transactions made overseas or with an international retailer online. This is usually 2% to 3.5% of the total transaction. Make sure you consider this fee before choosing a card – especially for any rewards card that offers more points for foreign transactions. You can compare cards with no foreign transaction fees with this guide.
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Purchase interest rates. Rewards credit cards often have high standard interest rates on purchases. If you think you’ll carry a balance, consider how much interest your purchases will accrue and whether the rewards will outweigh the cost of your repayments. If you do regularly carry a balance, you might want to check out low rate credit cards instead.
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Balance transfer interest rates. Some rewards credit cards also come with 0% balance transfer promotions. But you won't earn points for the balance that you transfer and any new purchases will attract the card's purchase interest rate. If you have credit card debt that’s collecting interest, it may be better to focus on paying it off completely before considering a rewards card.
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Cash advance interest rates. If you use a rewards credit card for a cash advance transaction, such as getting money from an ATM, you will be charged interest at the cash advance rate. This rate could be as high as 22% p.a. Cash advances usually don't earn reward points either.
Are there any complimentary extras?
Rewards credit cards often come with a variety of additional features that can add value to the account you choose. Popular perks include the following:
- Complimentary international travel insurance
- Airport lounge access
- Complimentary flights and travel credits
- Complimentary hotel stays and discounts
- Purchase protection insurance
- Extended warranty coverage
- Price match guarantees
- Concierge services
Rewards programs can be a great way to get extra value from your credit card. With so many rewards cards on the market, it's important to compare your options based on the card that offers you the greatest rewards. Plus, don't forget to factor in any interest charges, annual fees and other costs before you apply.
So if you want a rewards card, start by comparing a range of credit cards based on the rewards program, costs and your spending habits. You can then read reviews of individual cards, check your eligibility and apply for a card that suits your needs.
Pictures: Shutterstock
* The credit card offers compared on this page are chosen from a range of credit
cards finder.com.au has access to track details from and is not representative
of all the products available in the market. Products are displayed in no particular
order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are
subject to our disclaimer.
You should consider seeking independent financial advice and consider your own
personal financial circumstances when comparing cards.
Hi, I am looking for a No Annual Fee Credit Card which can earn rewards. This card should have a $0 Annual Fee even past the first year of nil fees. Thanks.
Hi Lori,
Thank you for contacting Finder.
You can compare the Rewards Credit Cards at this page wherein they offer $0 Annual Fee not just on the first year but to your succeeding years.
Please make sure though to read the eligibility criteria, features, and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.
After comparison, you may click the green “Go to site” button to be redirected to the Bank’s site and complete their online application.
I hope this helps.
Please do not hesitate to reach out again to us if you have additional questions.
Cheers,
Ash
Hi,
I am looking for a credit card with low annual fees that will offer me the best rewards with flights.
Thanks,
Vi
Hi Vi,
Thank you for getting in touch with Finder.
You may compare low/no annual fee credit cards that earn reward points on this page. Since you mentioned on earning points for flights, having a frequent flyer credit card would suit your needs. A few frequent flyer credit cards charge no annual fees, including the American Express Velocity Escape and Qantas American Express Discovery Card.
Please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Which AMEX card will earn the highest Qantas FF points per dollar spend after April 2019?
Hi Morrice,
Thank you for getting in touch with Finder.
As per this page, Amex Qantas Ultimate card earns the highest Qantas FF points at 2.25 Qantas points per dollar spent on Qantas transactions, 1.25 QFF points on other transactions and 0.5 on government transactions.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Looking for the best reward credit card .. Currently westpac altitude card 1.25 for every dollar we used to have the extra american express card which would be 2 or 3 points per dollar that now longer exists with westpac and has to be brought from american express for so for the reward points in flights
$100.00 per 33025 points in flights
and cash conversion
100 for 23950 points currently has a 15% discount on the points otherwise its more points per 100
What would you suggest is the best credit card as we either go back to the american express and keep adding or start a fresh
Hi Kathryn,
Thanks for your inquiry
It looks like you’re already on the right page for comparing all rewards credit cards featured on our site. However, we are not permitted to recommend a specific card for you and we can only provide general information. It would be best to compare the options listed above to your existing AMEX card to help you decide.
Hope this information helps
Cheers,
Arnold
we require a company credit card
only have about 5 transactions per month total spend about $400
pay off debt each month
currently have a diners card and finding it is not acceptable to all.
also bank with Bankwest.
what card do suggest
Thanks for getting in touch with finder, a leading comparison website and general information service.
You can compare your options for business credit cards on this page. Click the green “Go to site” button to be redirected to their main page for online application.
Since you’ve mentioned you currently have an account with bankwest, if you are interested to get a credit card from the same bank, you may compare here.
Hope this helps!
Can I use diners club rewards with Emirates?
Hi Ron,
Thanks for your inquiry. Please note that we are not affiliated with Diners Club or any company we feature on our site and so we can only offer you general advice.
Yes, the Diners Club Rewards program also allows you to transfer your reward points to 17 airline and travel loyalty programs, including Virgin Australia’s Velocity frequent flyer program, Emirates Skywards, Etihad Guest and Hilton Honors.
You can know more about Diners Club Rewards program on this page.
Best regards,
Rench
I spend and pay off in full about 25K per month of normal spending on my Citi Signature card which since the 1st July 2017 have at best halved their reward points which I use for Qantas flights.
What is the best card now for me to get the most points for my spend per month, ie who is dollar for dollar and uncapped
Hi Kym,
Thank you for your inquiry.
While we cannot recommend what is best for you, we can offer you a general information. You can use this quick video tutorial guide to review and compare the offers that will best fit your personal requirements.
I hope this information has helped.
Cheers,
Harold
Since the rules for the credit card reward points that you earn are changing as of the 1st July 2017, what would be the best rewards card that you can earn points for make payments to the ATO? Currently have a Westpac Altitude Rewards card and this is changing from 1st of July 2017 where you no longer receive points for ATO payments.
Hi Maz,
Thanks for your comment.
Please click this page to find out which credit cards let you earn points when making payments to the ATO. Compare the credit cards that earn points for tax payments and after you’re done comparing, click the “Go to Site” button to be redirected to the banks website to apply.
Regards,
Jhezelyn
I was hoping you could crunch the numbers and let me know the best value reward credit card available.
I currently have a Jetstar Platinum MasterCard
Spending approx $60k pa
I receive 2 points per dollar (2%) return
1 point = $1 when redeemed so about $1200 only catch is have to use as Jetstar flights.
Annual fee is $49 + additional card $39 so $88 annual fee
Can you suggest a card to offer me better value or the same that has more flexible rewards.
Many thanks
Alan
Hi Alan,
Thank you for your inquiry.
For your additional options to compare you may want to consider this options.
I hope this information has helped.
Cheers,
Harold
Need a replacement card as mine is almost beyond being usable
Hi Brian,
Thanks for your comment.
May I know what type of card you are currently holding so I can assist you?
Alternatively, you can also try logging into your account on your bank’s website and check if there is a feature for requesting replacement cards.
Cheers,
Anndy